10021 Banking, credit and other investment managers

What this occupation covers

Banking, credit and other investment managers plan, organize, direct, control and evaluate the activities of financial establishments or operational departments within such establishments, or credit departments in industrial and commercial establishments. They oversee business development and manage overall performance in accordance with established strategic directions and policies. Banking managers are employed by banks, trust companies and credit unions. Credit managers are employed by credit departments in department stores, utility companies, car dealerships, insurance companies or other industrial or commercial organizations. Other investment managers are employed by credit card companies, consumer loan companies, mutual fund investment firms, mortgage investment companies or other financial establishments concerned with extending loans and financing and investments.

Official main duties

The NOC profile lists 17 main duties for this code.

• Plan, organize, direct, control and evaluate the branch operations of a bank, trust company, credit union or similar financial institution or of a department in such an institution responsible for administering personal and commercial loans, buying and selling securities, operating investment funds, administering trusts, settling estates or other related activities
• Ensure the institution's policies and procedures are followed according to established guidelines and make recommendations for improvement
• Network to develop business relations, promote the sale of loan, investment and other banking services and attract corporate and individual customers
• Interview corporate and individual customers and respond to customer enquiries
• Analyze, review and approve or reject loan and credit applications in accordance with authorized limits
• Monitor processing of loan applications and credit investigations
• Oversee preparation of monthly financial and branch progress reports
• Recruit personnel and identify their training needs.
• Plan, organize, direct, control and evaluate the activities of a credit department in an industrial or commercial organization
• Administer corporate, commercial and personal loan accounts
• Advise customers on the commercial and personal financial services corresponding to their needs
• Evaluate and review loan and credit applications and collateral and make recommendations
• Approve or reject credit applications, establish credit limits and determine repayment plans or schedules in accordance with authorized limits
• Ensure collection of overdue or delinquent accounts
• Ensure credit policies and procedures are followed according to established guidelines and applicable legislation
• Prepare credit and loan reports
• Recruit credit personnel and identify their training needs.

Do not copy these lines into your reference letter. The letter has to describe what you actually did, in your employer’s words. DUTYPROOF flags wording lifted from the NOC as something to review, and an officer reading a letter that mirrors the NOC reads it the same way.

What DUTYPROOF screens for

This is DUTYPROOF’s screening threshold, not IRCC’s decision. For this NOC, screening requires at least 3 of its 17 official duties to be evidenced in your own words, plus the required letter elements. IRCC asks that you performed the actions in the occupation’s lead statement and a substantial number of its main duties — so treat the duty coverage as the number that matters, not the badge.

Codes this one is confused with

The NOC profile names these itself. Choosing the wrong code of a look-alike pair is the most common way genuine work experience fails to establish eligibility.

• 10020 Insurance, real estate and financial brokerage managers
• 10029 Other business services managers
• 00012 Senior managers - financial, communications and other business services

Excluded from this code

• Mortgage broker manager (See 10020 Insurance, real estate and financial brokerage managers)
• Other business services managers (See 10029 Other business services managers)
• Senior managers - financial, communications and other business services (See 00012 Senior managers - financial, communications and other business services)

Job titles filed under this code

A title on this list does not by itself put your experience in this code — the duties in your letter decide that.

accounts manager - banking, credit and investment · area manager - banking, credit and investment · assistant branch manager - banking, credit and investment · assistant consumer credit manager · assistant corporate banking services manager · assistant credit manager · assistant operations manager - banking, credit and investment · assistant regional manager - banking · bank branch manager · bank director · bank manager · banking accounts manager · banking centre manager · banking operations manager · branch administrative manager - banking, credit and investment · branch manager - banking, credit and investment · collection centre manager · collection manager · collection manager - bank or trust company · commercial attaché · commercial banking manager · commercial mortgages accounts manager · commercial mortgages manager · consumer credit management trainee

Employment requirements

• A university degree or college diploma in business administration, commerce, economics or a related field is usually required.
• A master's degree in business administration, finance or management science may be required for the management of large commercial loans.
• A recognized financial designation may be required (CFA, CFP, CIM or others).
• Completion of company or other management training programs is usually required.
• Several years of experience within the industry, including supervisory experience, are required.